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Crypto Exchange FTX.US Opens Stock Trading to Users Nationwide

Its president said the company won’t be charging trading fees or use a Robinhood-like payment for order flow business model.

By Cam Thompson
AccessTimeIconJul 27, 2022 at 8:40 p.m. UTC
Updated May 9, 2023 at 3:51 a.m. UTC
FTX.US President Brett Harrison (Danny Nelson/CoinDesk)
FTX.US President Brett Harrison (Danny Nelson/CoinDesk)
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FTX.US has opened stock trading to users in all 50 American states, company President Brett Harrison said in a tweet Wednesday.

  • The cryptocurrency exchange will now allow all users to trade hundreds of stocks and exchange-traded funds either online or through the FTX.US Pro mobile app, he added.
  • The U.S. unit of the FTX exchange piloted the feature to a select group of customers in May, and said it would not charge fees or monetize trades in a way similar to Robinhood (HOOD), which has been criticized for its payment for order flow business model.
  • In June, FTX.US acquired stock-clearing company Embed Financial Technologies to provide its application programming interface (API) and brokerage services to the platform.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Cam Thompson
    Cam Thompson

    Cam Thompson was a news reporter at CoinDesk.

    Follow @camgthompson on Twitter

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